Analysis of the Hang Seng to get an idea of global markets. The green arrow shows the top...the same date that the US markets started the crash....Oct 2007. The only difference between this market and the US is, the US market is forming a Expanded Flat (huge) where the b wave rises above the top...wave 5.
The most important part to this entire chart is the red converging trendlines forming an Ending Diagonal that started at the red arrow in 2011. It appears it has a b wave and c wave for a complete ED. Just a guess...this could last until August this year. That being said, any trade above wave 3 could call this complete.
I would expect all markets to crash nearly at the same time...as they did before in 2007. This, and the Dow, show that we are currently in a bear-market rally. The bear market that started Oct 2007. This will be the second shoe to fall. This chart also bolsters the view that the Dow, is also forming and Ending Diagonal. This explains the weakness and the fact that it's hard to chart.
The most important part to this entire chart is the red converging trendlines forming an Ending Diagonal that started at the red arrow in 2011. It appears it has a b wave and c wave for a complete ED. Just a guess...this could last until August this year. That being said, any trade above wave 3 could call this complete.
I would expect all markets to crash nearly at the same time...as they did before in 2007. This, and the Dow, show that we are currently in a bear-market rally. The bear market that started Oct 2007. This will be the second shoe to fall. This chart also bolsters the view that the Dow, is also forming and Ending Diagonal. This explains the weakness and the fact that it's hard to chart.
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Wave (i) ended at 20362 on 9-24-15, Wave (3) MAY have started down OR Wave (A) was up from wave (i) to 23452 ending on 10-16-15, making this move down a possible wave (B) for a retracement to/past wave (A) for wave (C)...possibly reaching the underside of the Ending Diagonal.
